Marketwatch: These countries have the most to lose if Russia shuts the gas valve

As winter nears and tensions in eastern Ukraine mount, Russia is giving several European Union countries yet another reason to worry about the conflict between the two: natural gas.

Finland, Estonia, Latvia, Lithuania, Romania and Bulgaria receive 100% of their natural gas imports from Russia, the Energy Information Administration said Wednesday.

Romania and Bulgaria receive that gas through pipelines that cross Ukraine.

Overall, 30% of natural gas consumed in Europe (including countries outside the European Union) came from Russia last year, with 16% of natural gas consumed in Europe passing through pipeline networks in Ukraine.

Top Russian gas importers include Germany and France. In the past, as much as 80% of the Russian gas traveled through Ukraine, but that percentage has fallen to 50% to 60% once a pipeline under the Baltic Sea connected Russia and Germany three years ago, according to the EIA.

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Source: Marketwatch, 2014

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